Flexible Lifetime Mortgage

Why choose our Flexible Lifetime Mortgage?

Whether you’re looking to treat the family to the holiday of a lifetime, finally get the kitchen you’ve dreamed of, or help a family member onto the property ladder, our Flexible Lifetime Mortgage could be just what you need. We also offer Inheritance Protection if you want to secure a proportion of the net sale proceeds of your home for your beneficiaries.

A lifetime mortgage is a type of equity release, which is a loan secured against your home. Our Flexible Lifetime Mortgage gives a tax-free cash sum and you don't need to make any interest payments. Plus, you can stay in your own home and you will never owe more than it's sold for (subject to terms and conditions).

Get a tax-free cash sum from your home

No need to make monthly interest payments

Option to apply for more money in the future

Want to find out more?

The Retirement Lending Advisers (TRLA) are financial advisers who only advise on our Lifetime Mortgages. They’re a separate company, not part of Legal & General. They can answer any questions you may have. Calls are free.

Call TRLA on 0800 915 4735

Lines are open Monday to Friday, 9.00am to 5.30pm. TRLA may record and monitor calls.

Important things to think about

Before deciding to take out a lifetime mortgage, an adviser can talk you through the benefits and risks. And they can point out other options available to you. In the meantime, here are a few things to think about.

A lifetime mortgage will reduce an inheritance. It may affect your entitlement to mean-tested benefits. You may have cheaper ways to borrow money.

You can take Inheritance Protection to protect a proportion of the value of your home. However, this will reduce the amount you can borrow.

We have a No Negative Equity Guarantee which means your beneficiaries will never have to pay back more than the amount your property is sold for.

The loan is repaid when the last borrower dies or moves out of the home into long-term care.

You still own your home but you must meet our terms and conditions. An adviser will talk you through these.

Interest is charged on the loan plus any interest already added. This means the amount you owe will increase quickly over time.

You can choose to make Optional Partial Repayments, which will reduce the amount you owe and the total amount of interest charged over the duration of the lifetime mortgage. However, if you decide to repay all of your lifetime mortgage early, you may have to pay an Early Repayment Charge.

Is it right for me and do I qualify?

This product could be right for you if you want to:

Enjoy a tax-free cash sum

Make no monthly payments

Take a smaller initial amount at the outset with the option to apply for more money at a later date. If you take smaller amounts later, a different interest rate may apply to each amount to take, depending on interest rates available at the time

Make Optional Partial Repayments if you want to

And if you can answer ‘yes’ to all of these questions:

Are you aged 55 or over?

Are you living in (or buying) your own home with either a small or no mortgage?

Do you want to borrow a minimum of £10,000?

Is your property made of standard construction, in a good state of repair, free of any tenancy restrictions, and is it in England, Wales or mainland Scotland?

Is your home valued at £100,000 or over (£150,000 for ex-council, ex-housing association or ex-Ministry of Defence properties)?

My lifetime mortgage calculator

Our free, easy-to-use equity release calculator will show you how much you could release from your home with a Legal & General Lifetime Mortgage.

I amyears old and I think my property is worth

All applications above age 90 will be considered on an individual basis.

Our standard maximum loan is £750,000 and any loans above this amount are considered on an individual basis. Based on the information you have provided, we may be able to lend you more than £750,000.

This is an estimate of the maximum cash sum you may be able to release. The actual amount depends on your property and your individual circumstances. There are different ways to release the money depending on which of our products you choose. Speak to an adviser to find out more about our Lifetime Mortgages and which one could be right for you.

Did you know that the majority of our customers in 2018 received their money in less than eight weeks from applying?

To find out more call The Retirement Lending Advisers (TRLA) on the free phone number below.

They're a separate company who only advise on our Lifetime Mortgages and they won’t charge you an advice fee. They're not part of Legal & General. They can answer any questions you have about our products, check you’re eligible and arrange an appointment with an adviser, if you’d like one.

0808 302 6478

Calls are free. Monday to Friday, 9.00am to 5.30pm. We may record and monitor calls.

If you prefer, TRLA can call you. Simply request a call back by entering your details below.

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If you'd like TRLA to call you, please complete your full name and phone number.

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Complete if you’d like to hear more from us about our products and services. You’ll need to select the opt in box below as well.

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From time to time we'd like to contact you with news, useful information and exclusive offers on our products and services. If you'd like to be kept up to date, please let us know how you'd like to hear from us below.

Our promise is that we take your privacy seriously and will never share your personal details with anyone else for their own marketing purposes.

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Six steps to our Lifetime Mortgages

Take a look at the six simple steps you need to go through to take out one of our Lifetime Mortgages.

Read our free guide

Get a copy of our guide to lifetime mortgages

Please complete and submit the form below to receive a copy of our guide to lifetime mortgages through the post. There's also an option below to download a copy instantly too.

If you have any questions about our products and would like to speak to an adviser, you can call The Retirement Lending Advisers (TRLA) on the free phone number below. They're not part of Legal & General, they're a separate company who can only advise on our Lifetime Mortgages and they won’t charge you an advice fee.

0808 302 6478

Calls are free. Monday to Friday, 9.00am to 5.30pm. Calls may be recorded and monitored.

Please give me a guide

If you’d like a copy of our guide through the post, please complete your full name and address. We’ll share these details with TRLA so they can send you your free guide. If you give us your phone number, TRLA will also contact you to answer any questions you may have.

Personal details

Complete if you’d like to hear more from us about our products and services. You’ll need to select the opt in box below as well.

Address

First line of address

Second line of address (optional)

Town/City (optional)

Postcode

Would you also like updates from us?

From time to time we'd like to contact you with news, useful information and exclusive offers on our products and services. If you'd like to be kept up to date, please let us know how you'd like to hear from us below.

Our promise is that we take your privacy seriously and will never share your personal details with anyone else for their own marketing purposes.

Post

Email

SMS

Telephone

You can find out how to opt out of marketing at any time in our privacy policy.

Are there any risks with a lifetime mortgage?

Yes, there are. It's very important to understand the risks as well as the potential benefits of taking out a lifetime mortgage.

With all of our Lifetime Mortgages, any unpaid interest is added each month to the amount you owe and will increase quickly over time. Interest is charged on the loan plus any interest already added. However there are repayment options, which could help you manage the interest you owe. There may be cheaper ways to borrow money.

A lifetime mortgage will reduce an inheritance and reduce the equity left in your home.

It may affect your entitlements to state benefits.

A lifetime mortgage is a loan secured against your home. Repaying a loan early could mean substantial early repayment charges.

If property values fall, then that may affect the equity available to you or your estate.

A lifetime mortgage adviser can explain the features and risks in detail and make a personal recommendation to you.

Why do I need to get professional advice to apply for a lifetime mortgage?

You can only get a lifetime mortgage through an adviser. It's a big decision and they can help you review all of your options. An adviser will explain the features and risks of the product in detail and make a personal recommendation to you.

You can talk to your own adviser or we can put you in touch with The Retirement Lending Advisers, a separate company who only advise on our Lifetime Mortgages and are not part of Legal and General. If you use them, they won't charge you an advice fee.

How can I take out a lifetime mortgage?

Call The Retirement Lending Advisers on 0800 915 4735

If you’re interested in taking out a Legal & General Lifetime Mortgage, you can find out more from a lifetime mortgage adviser. You can talk to your own adviser, or call The Retirement Lending Advisers (TRLA) on the number above.

TRLA aren’t part of Legal & General – they’re a separate company that only advises on our Lifetime Mortgages.

Calls are free. Lines are open Monday to Friday, 9.00am to 5.30pm. TRLA may record and monitor calls.